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Transferwise do cheap transfers but more important can provide US, UK and Aus bank accounts

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sundaymorningstaple
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Re: Transferwise do cheap transfers but more important can provide US, UK and Aus bank accounts

Post by sundaymorningstaple » Mon, 15 Jul 2019 3:16 pm

I just did a transfer from the US last Tuesday. Was credited to my local bank (DBS/POSB) yesterday. Nothing out of the ordinary, exchange rate 1.36030 for USD

tiktok
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Re: Transferwise do cheap transfers but more important can provide US, UK and Aus bank accounts

Post by tiktok » Mon, 15 Jul 2019 6:38 pm

No love for HSBC? I have accounts in 3 countries and moving money around is a breeze.
I not troll/wacko/spammer.
Me no expat. Me foreigner.

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Re: Transferwise do cheap transfers but more important can provide US, UK and Aus bank accounts

Post by PNGMK » Mon, 15 Jul 2019 10:28 pm

tiktok wrote:
Mon, 15 Jul 2019 6:38 pm
No love for HSBC? I have accounts in 3 countries and moving money around is a breeze.
I'm blacklisted...
I not lawyer/teacher/CPA.
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Re: Transferwise do cheap transfers but more important can provide US, UK and Aus bank accounts

Post by tiktok » Tue, 16 Jul 2019 11:50 am

Sorry to hear that. Because American?
I not troll/wacko/spammer.
Me no expat. Me foreigner.

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Re: Transferwise do cheap transfers but more important can provide US, UK and Aus bank accounts

Post by PNGMK » Tue, 16 Jul 2019 12:33 pm

tiktok wrote:
Tue, 16 Jul 2019 11:50 am
Sorry to hear that. Because American?

didn't pay a CC bill a few decades ago and it went to collections
I not lawyer/teacher/CPA.
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Re: Transferwise do cheap transfers but more important can provide US, UK and Aus bank accounts

Post by unbelievable1981 » Mon, 22 Jul 2019 6:24 pm

Been using them for a couple of years. If you simply want to straight funds transfers to saving/cheque accounts in other countries then they work great and almost the cheapest rates. I've had transfers out of Singapore reach US and AUS bank accounts within 5 mins to 12 hours max....very quick.
However if you want to use Credit cards, forget it. Any other features you can think of, forget it. It's a simple funds transfer for regular bank accounts, where you can easily have some foreign bank account numbers with them.
Also note there are cheaper alternatives, some are up to $50 cheaper based on $10K transfers. Depends on currency, etc.

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Re: Transferwise do cheap transfers but more important can provide US, UK and Aus bank accounts

Post by PNGMK » Tue, 23 Jul 2019 9:46 am

I notice TF are recruiting a Singapore bank specialist. Presumably to add Singapore bank accounts to their borderless account system and hopefully also for the debit card facility.
I not lawyer/teacher/CPA.
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Re: Transferwise do cheap transfers but more important can provide US, UK and Aus bank accounts

Post by PNGMK » Thu, 15 Aug 2019 3:47 pm

Oh dear.... TF have run into a MAS roadblock. Their accounts are capped at 30MM in TOTAL (i..e what they can hold on ALL of their Singapore client's behalf). I've had multiple friends who have a lot of money in borderless accounts told that they have to move it out or move their address of residency out of Singapore. TF apparently are discussing capping accounts for Singapore residents to some ridiculously low number ($5,000 or so).
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Re: Transferwise do cheap transfers but more important can provide US, UK and Aus bank accounts

Post by PNGMK » Thu, 15 Aug 2019 10:55 pm

Strong Eagle wrote:
Thu, 15 Aug 2019 9:20 pm
^^^^^^
Money laundering at work.
That was pretty much a conversation I had with an Aussie friend when I showed him the borderless account stuff - his exact words where "This won't last, the money launderers will get in and stuff it up".
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Re: Transferwise do cheap transfers but more important can provide US, UK and Aus bank accounts

Post by archcherub » Tue, 27 Aug 2019 10:00 am

i find DBS remit more and more attractive because the interface is so easy and no additional remittance fees.
not sure if the forex is better than transferwise. i compared once for philippine peso and USD, didn't find any big difference then after that i give up comparing lol

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Re: Transferwise do cheap transfers but more important can provide US, UK and Aus bank accounts

Post by Max Headroom » Tue, 27 Aug 2019 10:54 am

TW is following the route that countless erstwhile cheeky startups took before it: Flash onto the scene with a disruptive business model and low fees, a seemingly win-win situation, especially the end-user.

Then a few corporate players get a whiff of it and pour in the big bucks and/or key founders sell their stake and/or the thing goes IPO.

It's all downhill from here.

Unless you're one of the shareholders of course.

I know you guys like TW (you know who you are) but personally I'm not seeing all the goodness. To me, TW is PayPal in the making; a necessary evil because there's no real alternative.

Heads up for TW's repeated T&C tweaks, along with rising fees. Not to mention all that incoming AML compliance shizzle.

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Re: Transferwise do cheap transfers but more important can provide US, UK and Aus bank accounts

Post by PNGMK » Tue, 27 Aug 2019 4:25 pm

Plenty of alternates on the market already Max. Pick your poison. I like TF right now because I can get expenses and payments remiited directly to their borderless accounts without an outrageous charge.
I not lawyer/teacher/CPA.
You've been arrested? Law Society of Singapore can provide referrals.
You want an International School job? School website or http://www.ISS.edu
Your rugrat needs a School? Avoid for profit schools
You need Tax advice? Ask a CPA
You ran away without doing NS? Shame on you!

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Re: Transferwise do cheap transfers but more important can provide US, UK and Aus bank accounts

Post by Zul@ikahhh » Tue, 19 Nov 2019 11:13 am

Other than Transferwise there are other banks too. There are some pros and cons, just need to do a lot of research to it. Like which banks to transfer to or comparing the rates to remit.
Just found this website and it helps me a lot, quite easy and helpful. https://remit.cashchanger.co/


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